Carvana Co. (NYSE:CVNA) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Carvana Co. (NYSE:CVNA) have been given an average rating of “Moderate Buy” by the twenty-four analysts that are covering the company, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation, seventeen have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $93.1391.

A number of equities research analysts have issued reports on CVNA shares. Wells Fargo & Company increased their price target on Carvana from $85.00 to $95.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Zacks Research upgraded shares of Carvana from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $120.00 target price on shares of Carvana in a research note on Friday, June 5th. DA Davidson boosted their price target on shares of Carvana from $64.00 to $67.00 and gave the stock a “neutral” rating in a research note on Friday, May 1st. Finally, Barclays set a $93.00 price objective on shares of Carvana and gave the company an “overweight” rating in a report on Thursday, May 14th.

Insider Buying and Selling at Carvana

In other news, Director J Danforth Quayle sold 14,525 shares of the stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $70.00, for a total transaction of $1,016,750.00. Following the completion of the transaction, the director directly owned 214,960 shares in the company, valued at approximately $15,047,200. This represents a 6.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ira J. Platt sold 15,000 shares of the firm’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $67.83, for a total transaction of $1,017,450.00. Following the completion of the transaction, the director directly owned 186,470 shares of the company’s stock, valued at approximately $12,648,260.10. This trade represents a 7.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 396,962 shares of company stock worth $28,525,088 over the last three months. 15.19% of the stock is owned by company insiders.

Institutional Investors Weigh In On Carvana

Several large investors have recently added to or reduced their stakes in the stock. Ascentis Independent Advisors purchased a new position in shares of Carvana in the 1st quarter worth approximately $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Carvana during the fourth quarter valued at $29,000. Farmers & Merchants Investments Inc. bought a new stake in shares of Carvana in the 4th quarter worth about $29,000. Annis Gardner Whiting Capital Advisors LLC raised its position in Carvana by 152.6% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 96 shares of the company’s stock worth $30,000 after purchasing an additional 58 shares during the period. Finally, Motiv8 Investments LLC bought a new stake in Carvana in the fourth quarter worth about $33,000. 56.71% of the stock is owned by institutional investors.

Key Headlines Impacting Carvana

Here are the key news stories impacting Carvana this week:

• Positive Sentiment: Carvana expanded same-day vehicle delivery and pickup in the greater Milwaukee area, reinforcing its ability to speed up the online car-buying and selling process and potentially improve customer satisfaction. Carvana Expands Same-Day Delivery to Milwaukee
• Positive Sentiment: The company is also being highlighted for streamlining used-car retail, with an integrated system that can move a vehicle from acquisition to delivery in as little as 4.8 days, which supports its efficiency and scaling narrative. How Is Carvana Speeding Up Its Used-Car Retail Process?
• Neutral Sentiment: Analyst-style coverage noted that Carvana’s stock has had a huge multi-year run, but recent weakness and a low value score suggest the market may be debating whether the current valuation already reflects much of the growth story. Carvana (CVNA) Stock Looks Stretched Following Its Very Large 3 Year Run
• Negative Sentiment: Carvana also faced a new competitive concern as Bidbus raised capital to expand its used-car marketplace, adding another rival in the online car retail space and increasing pressure on Carvana’s business model. Carvana (CVNA) Faces A New Rival As Bidbus Expands Used Car Marketplace
• Negative Sentiment: Recent market commentary also pointed out that CVNA fell more than the broader market in the latest session, reinforcing the view that investor sentiment has turned cautious in the near term. Carvana (CVNA) Registers a Bigger Fall Than the Market: Important Facts to Note

Carvana Trading Down 1.7%

Shares of NYSE:CVNA opened at $66.37 on Thursday. The stock has a 50 day moving average of $69.38 and a 200 day moving average of $73.31. The company has a market cap of $72.80 billion, a PE ratio of 40.37, a price-to-earnings-growth ratio of 11.39 and a beta of 3.46. The company has a current ratio of 4.09, a quick ratio of 2.57 and a debt-to-equity ratio of 1.05. Carvana has a 12-month low of $54.46 and a 12-month high of $97.38.

Carvana (NYSE:CVNA) last released its earnings results on Wednesday, April 29th. The company reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $1.37. The company had revenue of $6.43 billion for the quarter, compared to analysts’ expectations of $6.12 billion. Carvana had a net margin of 6.40% and a return on equity of 41.46%. As a group, equities research analysts expect that Carvana will post 1.58 EPS for the current year.

Carvana Company Profile

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana’s model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.